LAS VEGAS, Sept. 19, 2017 /PRNewswire/ -- Access Control Related Enterprises, LLC (ACRE), owner of Vanderbilt, a manufacturer of access control, intrusion and video solutions, and ComNet, a manufacturer of video and data transmission equipment, has announced the sale of Mercury Security Products (Mercury) to HID Global (HID), a subsidiary of ASSA ABLOY, AB.
ACRE CEO Joseph Grillo stated, "Divesting Mercury after many years of success since ACRE purchased the business in 2013 is a strategic move that allows ACRE to focus on its core Access Control, Video and Intrusion businesses under the Vanderbilt and Comnet brands. HID is the perfect home to provide for the continued growth and success of Mercury, which will remain a valued technology supplier to Vanderbilt."
The ACRE portfolio consists of global brands with proven technologies, a long acclaimed reputation for innovation and a high level of customer service and support. Vanderbilt provides over 2,000 products across access control, intrusion, video and cloud-based access and video systems in 95 countries. ComNet offers a broad line of fiber optic, copper, and wireless video and data transmission equipment designed for security and surveillance applications in intelligent transportation systems, utility and industrial markets.
HID's acquisition of Mercury Security is subject to regulatory approval and customary closing conditions. It is expected to close in Q4 2017. Financial terms of the agreement are not being publicly disclosed. Houlihan Lokey Capital, Inc. and Raymond James & Associates, Inc. acted as financial advisors to ACRE and Mercury.
About ACRE: ACRE was formed in 2012 by security industry veteran Joseph Grillo as a platform to consolidate acquisitions in the electronic security industry. ACRE acquired the Schlage SMS business from Ingersoll Rand in 2012, followed by the 2013 acquisition of Mercury, the 2015 purchase of the Security Products Division of Siemens AG, and the 2016 acquisitions of Access Control Technology (ACT) and ComNet.
About Mercury: Mercury Security Products is a global leader in the supply of OEM access control hardware. Mercury has an installed base of 4 million control panels world wide and has been providing enhanced access control technology to its valued partners since 1992.
About HID Global: HID Global powers the trusted identities of the world's people, places and things. Millions of people around the world use HID products and services to navigate their everyday lives, and over 2 billion things are connected through HID technology. HID works with governments, educational institutions, hospitals, financial institutions, industrial businesses and some of the most innovative companies on the planet. Headquartered in Austin, Texas, HID Global has over 3,200 employees worldwide and operates in more than 100 countries. HID Global® is an ASSA ABLOY Group brand.
HID Global contact:
Anthony Petrucci, Director, Global Public Relations, 512-776-9225, [email protected]